Let's Spend Our Money At Home

January 12, 1990|The Morning Call

To the Editor:

The time has come for America to arise from its slumber and confront the consequences of its foreign and domestic economic policies of the past century. As Europe reaches toward further economic unity and the Japanese usurp America's economic superiority, the United States must push for economic development at home. The economic crisis must be rectified before the situation becomes impossible for future generations to correct.

Instead of focusing on stabilizing the economies of other nations, the United States must now direct its attentions inward. While the government may gain political allies by lending and granting money to other nations, this policy has historical precedent for backfiring economically. After World War II, the U.S. government poured billions of dollars into rebuilding its former allies and enemies. Today, the Japanese have forgotten the significant aid they received after the war in their practicing of restrictive trade policies against the United States.

President Bush seems destined to continue these lending policies as he pledges aid to the nations of the crumbling communist block. Although this may be humanitarian and bolster democracy, this money will probably never be returned and could be better directed toward domestic affairs. At the very least, if economic aid such as this must be granted, the United States should insist that these debts be repaid in order to pay its own debts.

Because the world appears to be converting from military to economic might, the United States must rethink its policies of the past and direct itself toward improving inwardly instead of focusing on the needs of other nations over those of its own citizens. Funds should be directed toward modernizing American businesses and toward higher education to train the next generation of American workers. As America enters the computer age, efficiency and superior products must be emphasized to stay competitive in the international market. America must attempt to reinforce and strengthen its own industries before it reaches beyond its borders once again.